AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 0.90079 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.90676 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.90701 |
| Next High | 0.90676 |
| Current Price | 0.90529 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing